Its a mixed start to the day for the majors, Failure to move back through early highs would the majors under pressure for a second day.
Ethereum fell by 1.05% on Thursday. Partially reversing an 8.96% rally from Wednesday, Ethereum ended the day at $3,492.75.
It was a mixed start to the day. Ethereum fell to a mid-morning intraday low $3,381.11 before making a move.
Steering clear of the first major support level at $3,308, Ethereum rallied to a late afternoon intraday high and a new swing hi $3,610.91.
Ethereum broke through the first major resistance level at $3,651 before a pullback to sub-$3,410 levels.
Finding late support, Ethereum moved back through to $3,540 levels before easing back.
At the time of writing, Ethereum was down by 0.37% to $3,479.80. A mixed start to the day saw Ethereum rise to an early morning high $3,500.21 before falling to a low $3,479.14.
Ethereum left the major support and resistance levels untested early on.
Ethereum would need to move back through the $3,495 pivot to bring the first major resistance level at $3,609 into play.
Support from the broader market would be needed, however, for Ethereum to break out from $3,550.00 levels.
Barring an extended crypto rally, the first major resistance level and Thursday’s new swing hi $3,610.91 would likely cap any upside.
In the event of another breakout, Ethereum could test resistance at $4,000. The second major resistance level sits at $3,725, with the third major resistance level at $3,955.
Failure to move back through the $3,495 pivot would bring the first major support level at $3,379 into play.
Barring an extended sell-off, however, Ethereum should steer clear of sub-$3,200 levels. The second major support level at $3,265 should limit the downside.
First Major Support Level: $3,379
Pivot Level: $3,495
First Major Resistance Level: $3,609
23.6% FIB Retracement Level: $2,778
38.2% FIB Retracement Level: $2,262
62% FIB Retracement Level: $1,429
Litecoin fell by 0.58% on Thursday. Partially reversing a 16.70% rally from Wednesday, Litecoin ended the day at $354.44.
A bullish start to the day saw Litecoin rally to an early morning intraday high $365.20 before hitting reverse.
Falling short of the first major resistance level at $377, Litecoin slid to a late afternoon intraday low $321.84.
Steering clear of the first major support level at $318, Litecoin briefly revisited $359 levels before easing back into the red.
At the time of writing, Litecoin was down by 1.20% to $350.18. A mixed start to the day saw Litecoin rise to an early morning high $355.00 before falling to a low $350.00.
Litecoin left the major support and resistance levels untested early on.
Litecoin would need to avoid the $347 pivot to support a run at the first major resistance level at $373.
Support from the broader market would be needed, however, for Litecoin to break back through to $370 levels.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of an extended breakout, Litecoin could test resistance at $400. The second major resistance level sits at $391.
Failure to avoid a fall through the $347 pivot would bring the first major support level at $329 into play.
Barring an extended sell-off, however, Litecoin should steer clear of sub-$300. The Second major support level at $304 should limit the downside.
First Major Support Level: $329
Pivot Level: $347
First Major Resistance Level: $373
23.6% FIB Retracement Level: $250
38.2% FIB Retracement Level: $207
62% FIB Retracement Level: $138
Ripple’s XRP fell by 0.68% on Thursday. Following a 16.17% breakout on Wednesday, Ripple’s XRP ended the day at $1.60424.
A bullish start to the day saw Ripple’s XRP rally to an early morning intraday high $1.7647 before hitting reverse.
Ripple’s XRP broke through the first major resistance level at $1.7044 before sliding to a late afternoon intraday low $1.5400.
Finding support at the 23.6% FIB of $1.5426, Ripple’s XRP revisited $1.65 levels before falling back into the red.
At the time of writing, Ripple’s XRP was down by 0.74% to $1.59229. A mixed start to the day sw Ripple’s XRP rise to an early morning high $1.61049 before falling to a low $1.58197.
Ripple’s XRP left the major support and resistance levels untested early on.
Ripple’s XRP will need to move through the $1.6363 pivot to bring the first major resistance level at $1.7326 into play.
Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $1.70 levels.
Barring an extended crypto rally, the first major resistance level and Thursday’s high $1.7647 would likely cap any upside.
In the event of another extended rally, Ripple’s XRP could test resistance at $2.00. The second major resistance level sits at $1.8610.
Failure to move through the $1.6363 pivot would bring the 23.6% FIB of $1.5426 and the first major support level at $1.5079 into play.
Barring an extended sell-off, however, Ripple’s XRP should steer clear of the second major support level at $1.4116.
First Major Support Level: $1.5079
Pivot Level: $1.6363
First Major resistance Level: $1.7326
23.6% FIB Retracement Level: $1.5426
38.2% FIB Retracement Level: $1.2807
62% FIB Retracement Level: $0.8573
Please let us know what you think in the comments below.
Thanks, Bob
With over 20 years of experience in the finance industry, Bob has been managing regional teams across Europe and Asia and focusing on analytics across both corporate and financial institutions. Currently he is covering developments relating to the financial markets, including currencies, commodities, alternative asset classes, and global equities.